1. Purpose of the Job:

To provide financial planning, analysis, budgeting and commercial support to the Research & Development (R&D) function, ensuring effective control and utilization of R&D expenditure and providing management with meaningful financial insights for R&D projects, product development and commercialization decisions.

The role will partner closely with R&D and F&D leadership to evaluate project economics, monitor development costs, identify cost optimization opportunities and ensure adherence to approved budgets and financial controls.

2. Principal Accountabilities:

Lead a 2-member Accounting team in performing the below tasks:

A. R&D Budgeting & Planning:

- Lead the annual budgeting and financial planning process for R&D and F&D functions.

- Prepare detailed budgets for R&D projects, trials, development activities, manpower, materials, equipment and external services.

- Develop project-wise and department-wise cost estimates.

- Monitor actual expenditure against approved budgets and identify variances.

- Analyze actual vs standard yield, perform root cause analysis and come up with mitigation plan in consultation with R&D scientists.

- Support preparation of annual operating plans and long-term financial plans for R&D.

B. R&D Project Costing:

- Develop financial models and detailed costing for new product development projects.

- Evaluate development costs from laboratory trials through scale-up, registration and commercialization.

- Track project-wise expenditure and committed costs.

- Analyze cost per development project/product and identify cost drivers.

- Provide financial inputs for prioritization of R&D projects.

C. R&D Financial Analysis & Business Partnering:

- Act as a finance business partner to R&D/F&D leadership.

- Provide financial insights to support R&D investment and resource allocation decisions.

- Evaluate project economics, expected investment, cost-to-develop and potential commercial benefits.

- Prepare financial scenarios for management decision-making.

- Identify opportunities for improving R&D cost efficiency and return on investment.

D. Cost Control & Optimization:

- Monitor R&D expenditure and ensure effective utilization of approved budgets.

- Identify cost overruns and develop corrective action plans with R&D stakeholders.

- Drive cost optimization initiatives across raw materials, development batches, analytical activities, external testing, consultants and other R&D expenses.

- Analyze major cost drivers and recommend opportunities for savings.

- Establish appropriate cost benchmarks for R&D activities.

E. Capex & Asset Management:

- Support R&D teams in preparation and evaluation of Capex proposals for laboratories, equipment and infrastructure.

- Evaluate business justification and financial viability of major R&D investments.

- Monitor Capex utilization against approved budgets.

- Track project timelines, capitalization and asset utilization.

- Support ROI analysis for major R&D capital investments.

F. R&D Procurement & Commercial Support:

- Partner with SCM and Procurement for R&D-related sourcing and cost optimization.

- Review commercial proposals from suppliers and service providers from a financial perspective.

- Customer agreement to be finalised once quotes are approved. Finalisation of payment terms based on milestones agreed with Customers. Getting Senior management approval for the agreement.

- Clinical Trial Projects - Project base Clinical Trial Agreement verification and approval of Draft + Actual CTA of Sites (Hospitals) with its decision note as compared to budget. Site Invoice verification on receipt to be done as per agreed rates in CTA.

- Pre-clinical Clients - Approval of quotation and agreements: Analyze raw material, laboratory consumable, analytical service and external testing costs.

- Support negotiation strategies through cost analysis and benchmarking.

- Monitor purchase commitments and outstanding liabilities related to R&D.

G. Management Reporting & MIS:

- Prepare monthly R&D financial MIS for senior management.

- Provide reports covering:

1. Budget vs. Actual

2. Project-wise expenditure

3. Cost per product/project

4. Capex utilization

5. Cost savings

6. Forecast expenditure

7. Open commitments

8. Key financial variances

- Present financial performance and key insights to R&D and Finance leadership.

- Develop dashboards for monitoring R&D financial performance.

H. Forecasting:

- Prepare monthly/quarterly forecasts for R&D expenditure.

- Review project timelines and their financial impact.

- Update forecasts based on changes in development plans, project priorities and resource requirements.

- Identify potential future cost overruns and highlight them proactively to management.

I. Financial Controls & Compliance:

- Ensure R&D expenses are incurred within approved budgets and authorization limits.

- Strengthen financial controls over R&D procurement, projects and expenditure.

- Ensure appropriate accounting treatment and documentation for R&D expenses.

- Coordinate with Internal Audit, Statutory Audit and Corporate Finance during R&D-related reviews.

- Ensure compliance with Company finance policies, approval matrices and applicable accounting standards.

J. R&D Portfolio Analysis:

- Support management in evaluating the financial attractiveness of the R&D portfolio.

- Analyze investment requirements and potential commercial outcomes for major projects.

- Develop project-level financial models covering development investment, timelines and expected returns.

- Provide financial inputs for Go / No-Go decisions on selected projects.

- Support prioritization of R&D projects based on financial and strategic considerations.

K. Cross-Functional Collaboration:

- Work closely with R&D, F&D, QA, QC, RA, SCM, Procurement, Manufacturing and Commercial teams.

- Translate technical/project information into meaningful financial analysis.

- Establish strong financial awareness within R&D teams.

- Support R&D leadership in understanding budget implications and financial trade-offs.

3. Essential Skills & Competencies:

Functional:

- Strong understanding of financial planning, budgeting and cost control.

- Experience in project costing and financial modelling.

- Strong management reporting and MIS skills.

- Understanding of Capex evaluation and asset management.

- Strong analytical and variance-analysis skills.

- Experience in cost optimization and commercial analysis.

- Knowledge of ERP/SAP and advanced MS Excel.

- Understanding of pharmaceutical R&D/F&D processes will be preferred.

- Knowledge of pharmaceutical product development economics will be an advantage.

Behavioral:

- Strong analytical and problem-solving ability.

- Business-oriented mindset.

- Strong stakeholder-management skills.

- Ability to work with technical and non-finance teams.

- Strong communication and presentation skills.

- Attention to detail.

- Ability to challenge assumptions with data and logic.

- Proactive approach and strong ownership.

- Ability to work in a fast-paced, project-driven environment.

- Strong commercial acumen.

4. Qualification & Experience:

- Qualification: CA / CMA / equivalent qualification.

- Experience: 12 - 15 years of relevant experience in Finance / FP&A / Business Finance / Project Finance, preferably within the pharmaceutical, life sciences, chemicals or manufacturing industry.

- Experience in supporting R&D/F&D, product development, project costing or pharmaceutical business finance would be highly preferred.